Google launches a crypto custody platform, boosting market confidence.

Google unveiled a Multi-Party Compute (MPC) crypto custody platform for banks, which splits private keys into fragments distributed across multiple machines and cloud environments to enhance security.

The service is currently in private preview, with Alphabet using it to protect its own Ethereum and Solana holdings, and Google aims to launch it commercially in early 2027, competing with firms like Fireblocks, Fordefi and BitGo.

Analyst Joel Hugentobler noted that key‑splitting reduces risk from compromised systems, and Google says its infrastructure cannot access unencrypted key shares, while DeFiLlama data shows nearly $17 billion in crypto losses in the first half of the year, about 40 % due to private‑key compromises.

Summary rewritten by AI from the original article by PaymentsJournal.